AstraZeneca PLC (NASDAQ:AZN) Announces Dividend Increase – $1.03 Per Share

AstraZeneca PLC (NASDAQ:AZN) declared a semi-annual dividend on Friday, February 7th,Wall Street Journal reports. Stockholders of record on Friday, February 21st will be paid a dividend of 1.03 per share on Monday, March 24th. This represents a dividend yield of 2%. The ex-dividend date is Friday, February 21st. This is an increase from AstraZeneca’s previous semi-annual dividend of $0.49.

AstraZeneca has increased its dividend payment by an average of 2.0% per year over the last three years. AstraZeneca has a dividend payout ratio of 19.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AstraZeneca to earn $5.15 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 19.4%.

AstraZeneca Stock Performance

NASDAQ AZN opened at $71.99 on Friday. The company’s fifty day moving average is $67.46 and its two-hundred day moving average is $73.64. The firm has a market capitalization of $223.25 billion, a price-to-earnings ratio of 31.85, a P/E/G ratio of 1.20 and a beta of 0.46. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.71. AstraZeneca has a 52-week low of $60.47 and a 52-week high of $87.68.

AstraZeneca (NASDAQ:AZN) last issued its earnings results on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.55% and a net margin of 13.01%. Equities research analysts forecast that AstraZeneca will post 4.66 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on AZN shares. UBS Group raised shares of AstraZeneca from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, AstraZeneca presently has a consensus rating of “Buy” and a consensus target price of $89.75.

About AstraZeneca

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company’s marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.